Social capital and property rights: from value to price of the wind-farm land in Galicia, 1995-2008

Abstract

The development of wind power in Galicia was characterized, among other elements, by a “controversial” remuneration of the land occupied by wind farms. This controversy was based on the non-consideration of the soil as an “industrial site”, and by leaving aside key elements such as property rights and social capital. In short, it reflected the non-convergence between the “value” of a piece of land due to its ability to develop an industrial activity and the “price” that it should have as a remuneration for such capacity. In this article, a reflection is made about the situation experienced in Galicia since the beginning of the wind actions up to 2008, to deepen the need to establish regulatory frameworks that consider the rights of all the stakeholders involved.